CESR issued a Q&A to foster supervisory convergence and consistent implementation in the application of the
MiFID Level 1 and Level 2 Directive requirements on Best Execution. It sets out how to achieve a common supervisory approach in relation to the best execution requirements. It covers in a practical manner the content of execution arrangements, the content and degree of differentiation of the best execution policy, the possibility of using single execution venues, the assessment of the relative importance of the best execution factors, the notion of total consideration and fees and commissions, disclosure of information, consent, and the requirements of monitoring and review.
CESR also published a Feedback Statement, which sets out how the issues raised by stakeholders during consultation have been considered and reflected within the answers contained in this Q&A.
Questions and answers
Questions and answers feedback statement
© CESR - Committee of European Securities Regulators
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